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Industry News
Source: The Edge Malaysia

Baltic Exchange Reports Surging Middle East to China Crude Tanker Rates

The Baltic Exchange reported sharp increases in crude tanker freight rates connecting the Gulf region to China on October 9, 2026. Very Large Crude Carrier earnings on key Middle East to China routes experienced substantial daily gains amid vessel constraints and strong chartering activity.

Industry News
Source: Kpler

High Freight Rates Prompt Chinese Refiners to Favor Middle Eastern Crude

Surging maritime shipping costs have led Asian and Chinese refiners to favor Middle Eastern crude over West African supplies, according to analytics firm Kpler. Shipping freight rates have quadrupled from pre-crisis baselines, shutting down long-haul arbitrages. Resurgent Persian Gulf exports and restored Saudi logistics have consequently reclaimed market share in East Asia.

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